10 September 2010 23:33 [Source: ICIS news]
The US Department of Agriculture (USDA) on Friday said this year’s corn crop would be down 2% from its August forecast. USDA reduced its corn yield projection by 2.5 bushels/acre to 162.5 bushels/acre.
Nonetheless, the department still expected corn production to reach a new high, breaking the previous record of 13.1bn bushels set in 2009.
The soybean harvest was projected at 3.48bn bushels, up 1% from the August estimate.
“The increase in soybean production is a good sign as it indicates there will be ample supplies of vegetable oil available for all uses, including biodiesel,” said National Biodiesel Board spokesman Caleb Little.
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